UK Finance Firms to Face Planned Hacking

Finance firms in the UK could be attacked by ethical hackers on behalf of financial service regulators.

The hackers will be working to identify weaknesses in cyber security.

According to reports, the Bank of England will organise simulations of hacks on banking infrastructures, in an attempt to make sure regulators reach a better understanding of cyber security risks.

In June last year, the Bank of England said security attacks were the biggest risk to banks.

In 2013, regulators ran a simulated attack on the payments and markets systems on which the UK's financial system depends.

The test was conducted to assess the ability of the UK's core financial service providers to withstand cyber attacks.

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